[ICYMI] The Straits Times: Fewer first-timer applicants than flats available to them in the latest BTO exercise...

THERE were fewer first-timer applicants than flats available to them in the latest Build-To-Order (BTO) exercise offering units in Woodlands and Bukit Batok. That means that most applicants looking for their first flat should be guaranteed one and will not have to ballot. At 5pm yesterday, there were overall 0.9 first-timers vying for each flat in the BTO exercise, which was set to close at midnight. The last time the first-timer subscription rate fell below 1 was in last May's offer of BTO flats in Choa Chu Kang, Hougang, Jurong West, Sembawang, and Woodlands. The application rate then was 0.7 for first-timers. PropNex Realty chief executive officer Mohamed Ismail Gafoor believes the slide in application rates could mean that supply is finally catching up with demand. The first-timer application rate dropped from 1.7 in January to 1.4 in March. "First-timers have been ver...